Recordati S.p.a. · MIL:REC
Recordati — J.P. Morgan Healthcare Conference 2026
13 slides from Recordati's conference presentation, Jan 14, 2026
Slide 1: Unlocking the Potential in Rare Diseases
RECORDATI «UNLOCKING THE POTENTIAL IN RARE DISEASES» J.P. Morgan Healthcare Conference Rob Koremans, CEO January 14, 2026
Slide 2: Company Declarations, Disclaimers and Profile
COMPANY DECLARATIONS, DISCLAIMERS AND PROFILE Statements contained in this presentation, other than historical facts, are “forward-looking statements” (as such term is defined in the Private Securities Litigation Reform Act of 1995). These statements are based on currently available information, on
Slide 3: Recordati: A Century Creating Value and Now a Global Leader in Rare Diseases
RECORDATI: A CENTURY CREATING VALUE AND NOW A GLOBAL LEADER IN RARE DISEASES • Founded in 1926 in Correggio (Italy) 9M 2025 • Fully integrated operations across R&D, Rare manufacturing, commercialization and licensing Diseases • Employees: > 4,500 40.0% of Revenue • Global market: approx. 150 countr
Slide 4: Consistent High Single-Digit Growth with Increasing Contribution of Rare Diseases
CONSISTENT HIGH SINGLE-DIGIT GROWTH WITH INCREASING CONTRIBUTION OF RARE DISEASES; AVG ROIC 15-20% OVER LAST DECADE Group Revenue 2014-2027 - actual and guidance million Euro CAGR 3,000 – 3,200 +9.0% (incl. BD/M&A) 2,600 – 2,670 2,342 2,082 Double 1,853 digit 1,482 1,580 organic 1,352 1,449 growth 1
Slide 5: Solid Foundation and Proven Track Record Positions Recordati Well for Next Phase of Growth
SOLID FOUNDATION AND PROVEN TRACK RECORD POSITIONS RECORDATI WELL FOR THE NEXT PHASE OF GROWTH CONSISTENT ENHANCED DISCIPLINED DE-RISKED EXPERIENCED FINANCIAL VALUE BD/M&A BUSINESS LEADERSHIP PERFORMANCE DRIVERS MODEL TEAM Strong focus driving Strengthened Proven M&A and Diversified business World c
Slide 6: Global Rare Diseases Business with Significant Further Growth Potential
GLOBAL RARE DISEASES BUSINESS WITH SIGNIFICANT FURTHER GROWTH POTENTIAL Annual revenue accelerating and on track to exceed € 1B in FY 2025, with EBITDA margin >40% Portfolio of >20 orphan/ ultra-orphan products across Endocrinology, Oncology and Metabolic with generic impact anticipated to be mitiga
Slide 7: Key Rare Diseases Drivers of Double-Digit Growth
KEY RARE DISEASES DRIVERS OF DOUBLE-DIGIT GROWTH 9M 2025 results € 301.3M € 197.3M € 283.6M Metabolic +3.7% vs PY Hema-Oncology +71.4% vs PY Endocrinology +18.4% vs PY (+12.2% LFL(1)) Solid foundation for Rare Diseases Broader usage in Greater than € 1.2 bn business built on EU, geographic expansion
Slide 8: Acceleration in U.S. Isturisa Patient Uptake
ACCELERATION IN U.S. ISTURISA® PATIENT UPTAKE U.S. Isturisa® Patient Growth Highlights ~ 1,400 net 220 active • Continued strong patient uptake as patients1 new patient enrollments ramp up across all etiologies, following 200 April 15, 2025: FDA approval expanded label in April 2025 for expanded ind
Slide 9: Isturisa: Peak Sales Doubled on Broader U.S. Cushing's Market Opportunity
ISTURISA: PYS DOUBLED TO > € 1.2B1 ON BROADER U.S. CUSHING'S MARKET OPPORTUNITY Current U.S. market Additional U.S. opportunity Mostly overt (moderate/severe) Mostly non-overt (milder) • Primarily Cushing's disease (classical clinical • Primarily non-CD Cushing's Syndrome with cardiometabolic expres
Slide 10: Specialty & Primary Care: European Partner of Choice Delivering Resilient Organic Growth
SPECIALTY & PRIMARY CARE: EUROPEAN PARTNER OF CHOICE DELIVERING RESILIENT ORGANIC GROWTH 9M 2025: +5.0% like-for-like(1) at CER with continued overperformance of promoted portfolio vs relevant markets, driven by Gastrointestinal (+9.0%), Cardiovascular (+4.9%) and Urology (+5.5%) Diversified portfol
Slide 11: Lifecycle Management and Business Development to Sustain Longer-Term Growth
LIFECYCLE MANAGEMENT AND BUSINESS DEVELOPMENT TO SUSTAIN LONGER-TERM GROWTH 2025 2026 ▪ Licensing of Vazkepa® rights in Europe ▪ Continued disciplined M&A ▪ Fast and effective integration of Enjaymo® and Vazkepa® BD / M&A ▪ Isturisa® label extension for Cushing's ▪ Initiation of Ph IV randomized con
Slide 12: Positive Outlook Driven by Strong Momentum Across the Business
POSITIVE OUTLOOK DRIVEN BY STRONG MOMENTUM ACROSS THE BUSINESS AND SIGNIFICANT RARE DISEASES OPPORTUNITY FY 2025 FY 2027 • Strong performance across the business expected Targets1 Targets2 to deliver FY 2025 results in line with original (incl. BD & M&A) million Euro guidance (lower half of range) d
Slide 13: Thank You
THANK YOU 13